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to succeed tim geithner as treasury secretary wasn't getting long enough, now you have mitt romney's name thrown into the ring. >> ben white joins us now to talk more about that. ben, you admit it's unlikely, but you think this would work. talk to us about it. >> it's a little unlikely. good to be with you. thank you. you look at the two things, the biggest knocks on the obama administration in the first term were they didn't have a businessman with any business experience in any senior role, and they had terrible relations with republicans on capitol hill. no businessman, no bipartisanship. romney gives you both of those. he's a guy that gets along with republicans. he could make a deal on entitlements, tax reform. and he gets you a lot of business experience. i first said it as a joke, then i thought it makes sense. a lot of people agreed with that. >> certainly the president wants to reach across the aisle, you know, once in a while and have republicans do that. usually a businessman goes to commerce secretary. >> often, but it's a back water agency. if you have someone with a really p
, it's not just the mitt romneys of the world who will take a hit for higher tax rates on dividends next year. wait. you hear how widespread the pain will be felt among ordinary americans. >>> later, save my 401(k). americans pour millions into these nest eggs because of tax benefits. someone here says those breaks could be chopped to cut the deficit. are those worries overblown? a heated debated is coming up. music is a universal language. but when i was in an accident... i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. information on my phone. connection to doctors who get where i'm from. and tools to estimate what my care may cost. so i never missed a beat. we're more than 78,000 people looking out for more than 70 million americans. that's health in numbers. unitedhealthcare. >>> let's get to mary thompson who has more on some of market action. >> more actually on all these companies paying out these dividends, michelle. consider this. last year only 44 members of the russell 3 o -- 3 000 had paid out a special
a normal fee for service medicare to some sort of premium support plan. mitt romney adopted that in the campaign. interestingly, pete domenici and allison rivlin advocated what romney campaigned on as a fundamental change in medicare. i do think this is a reflection of progress they're exchanging numbers on paper. i talked to the senate democratic leadership. they said, we're not going to react until we hear from the white house. the president is going to have a photo op in a few minutes with the bulgarian president. we'll see if the president gets thrown a question and whether he offers a reaction. haven't heard anything from white house staff so far in reacting to this, guys. >> essentially they're picking up negotiations where they left off in august of '11 when the grand bargain fell apart. isn't this what we're talking about here? >> that is right. the speaker's office clarified the proposal they essentially laid down is drawn from erskine bowles' individual testimony to the super committee in the fall of 2011. that is to say, not the simpson/bowles recommendation itsel
with mitt romney. i'm wondering to what degree does that move the ball forward? >> mitt romney is not as defeated presidential nominees go, he does not have large amount of influence within his own party. we saw it after the election some of the comments he made. republicans running away from them. he's someone well known from the american people just coming out of a contentious presidential campaign. if he were to put his shoulder to the wheel and assist president obama in trying to move congress along and move some republicans and move democrats as well, that could be a constructive force. i don't know whether that is the end goal of this and whether or not in fact this is simply going to be a private healing session to be followed by some assignment later. if romney chooses to help with this endeavor, he could make some difference. not a huge amount but some. >> thank you for joining us for the latest. new developments on the insider trading investigation surrounding s.a.c. capital. the firm hold be an investor call just a short time ago. kate? >> the headline coming out of
romney. >> they are using the stuff that is done in the budget control last year. >> those are terrible talking points. >> let me say this point. >> hang on a second. i want to go to guy benson on another point. there is a lot of talk that the republicans might have a doom's day scenario. if there is a budget stalemate, then the republicans will allow a vote on the house floor which is the democrats from the sen e senate. they will vote present therefore it will go through. that is called the doom's day scenario. it would be a ho mage to the president. it is this sill ily plaf lily p. you could completely own it. you could say we are letting the country burn. and i think it is seductive. but it is irresponsible. >> they are going to keep fighting. i have to leave it there. president obama says no deal on the fiscal cliff. >> how does raising tax rates on the rich help the poor. that is what i don't get. true free market capitalism helps everybody. a rising tide lifts all boats. i'm laugrry kudlow we will be right back. two years ago, the people of bp made a commitment to the gulf. bp h
this. i'm pretty confused about why the romney campaign didn't hit the obama care tax argument harder on the campaign trail because the supreme court ruled it a tax for good reason. it had gone through the numbers here on your show. this hit small businesses and in return hits the middle class, the very people that these small businesses employ, the people who will get hid the hardest, even though making $200,000 per year are the ones employing the middle class that president obama keep propping up to get his agenda passed. >> now we have this $20 million medical device tax. this has been around. i believe you write this will really crush medical innovation in the united states. >> right. i think this is one of the more severe tax thaeds we're going to see. essentially with this medical device tax, they're tacking on more costs to life saving devices such as mechanical hearts. it does the same thing as a doctor shortage. the students that go into these programs, myio medical engineering, are not going to see a return on their investment because it's going to be a too expensive for com
mitt romney for a private lunch. it's their first meeting since the election. and this his victory speech, obama promised to engage with romney and consider his ideas. >> a lot of people didn't think the lunch would ever happen. >> interesting if he's going to be talking about ideas, mitt romney's idea had been to reach some sort of a cap on it 00 mem deductions. >> he would have just extended the bush tax cuts and then the other stuff would have been -- but if romney had been elected, whether bad long term to extend them, that's one thing, but he would have extended -- this is a weird argument to be having to have everything hinging on on the 2% that are -- suddenly as i've said before, suddenly everybody loves the bush tax cuts. so weird. >> flips the tables on who likes what. >> it all goes back to the line in the band. obama first time around caved and his base never for gave him for extending the bush tax cuts when he said he wouldn't. >> maybe the republicans should be reconsidering the tough line that they drew back in july of 2011 because this is a situation where i think i
with romney being a piece of it. >> has the private equity industry changed its position on this issue? have they accepted -- dare i say have they accepted defeat on this issue? >> i think they haven't changed their position. they still believe -- most people still believe it should be considered ordinary income, but that said, they have accepted defeat. every private equity exec i speak to says they feel at some point carry will be treated as ordinary income and not a capital gain, i'm sorry. and they've not really worked that in but accepted that's going to be a change that will have to come this year or next year. >> has there been any move of foot, and i don't know if we'll see it before the new year for a number of deals to either get done or recaps or other things where people are worried about the additional taxes that may come on dividends. >> you're starting to see that a little bit. and particularly the capital gains increase. because even if leaving carried interest aside, a lot of the investors in private equity funds, you know, no the the nonprofits, but family offices, et ceter
to oppose romney. so that's like 2:1. >> you're not adding in the seiu. >> down at $14 million. i'm looking at the "wall street journa journal"'s page on super pacs. i've got the restore america's future 1rks 42, priorities usa -- >> if you add up all the super pa pacs, they barely balance out the union involvement. >> sciu was down ninth, 14.7 million. >> why are you arguing about this will? the results are out. >> are there lessons for business in the advertising campaigns by the super pacs? assuming that one side went wrong here, where did they go wrong? >> you're focusing on the super pacs and of course it's about the strategists and how they went about it. and the simple fact is the democrats understood the demographic changes whether you're talking about african-american, hispanics, single women. and understanding the changes taking place. i think the republican party is still rooted to a large september extent in the past. if you look at the nature of the people involved on either side, it was i think predictable that one set of advisers was in touch and the others weren't. >> martin
in 2013? you were a romney supporter. do you have to change your strategy now that we know we have president obama for the next four years? he's got a much different mentality. >> i'm a social liberal fiscal conservative. my party doesn't really exist. i thought if the nation got burr rid under trillions of debt, there would be nothing to talk about. we wouldn't have a social agenda. >> we're close to it. >> 16 on our way to 20. then you lose options. you go over an edge where you're only services debt. today our interest expense is like $120 billion or so. 4% on $20 is $500 billion. that overwhelms all the discretionary spending. somebody has to get serious in washington. i'm hoping obama is coming to be a great president, which has come to the center. he inherited a bad economy. there's no doubt, right? but we haven't made a lot of progress. we haven't given business a lot of confidence. we have $1 trillion -- >> antagonistic with business. >> we would call it antagonistic. a lot of listening but not a lot of hearing. i'm supposed to go -- i won't say that. >> you're going to go
of an obama recovery. and now that governor romney is no longer and the electoral politics are behind us they're really in a box. on the one hand they now are tied to the idea that they have to invest in something that's pro-growth. but this idea that you repeal obama care and we get growth -- >> why is it unreasonable for the gop to want to extend the eligibility age for medicare, to want to fix colas for social security? these things have been around for a long time. >> because you're balancing the budget on the backs of vulnerable people. >> democrats have supported these kinds of things. they essentially want to means test medicare. i'm not sure i agree with this but they want a progressive shift in that. why is that a bad thing? >> going after seniors who are now eligible at 65 and bumping up the eligibility age when you're talking about people word in some cases long term unemployed, in jobs where they are making -- can't pay their bills. let's remember where this deficit came from. it came from the iraq war run off budget. it came from a financial crisis that rewarded a lot of executiv
perry wanted and was mocked for it. unfortunately by mitt romney. or the people that have been here 20 years as newt gingrich said put them on a path to citizenship. in other words the gop made a mockery out of dealing with hispanic immigrants and i think that's a crucial point in their defeat. >> there's no question that the way that the gop is approaching this immigration issue is similar to generations ago they approached affirmtive action with the black community. these are turn offs when you don't have a clear discussion what a low wage income earner needs. especially on this question because they have family members that are here illegally. larry that's not the major problem we're seeing today with the latino community and the hispanics especially those coming from mexico. this community of people of the last generation have come in and adopted this policy if you will that there's nothing wrong with government dependency. one question to say do they come in and work hard. they work hard and work hard at a low wage. they are open territory important the democrats to say let's unio
, donald, has been on our program a lot. he was a big supporter of romney. there were stories going around that you said, dad, pull it back a bit. you don't have to be so negative on the president. is that what happened? >> it was fascinating because this was a widely circulated report that was without fact at all, and not one reporter actually called and asked the question you just did, which is, is that true? no, it wasn't. my father has been a very important part of the dialogue. he's been saying a lot of things that other people, you know, not wanting to be in a space where they're talking about politics, they don't see it as advantageous. they're not really speaking their minds. it would not be my place to tell him to tone anything down. >> are you worried about the fiscal cliff? how is business going? you're an entrepreneur in your own right. i want to talk to you about business, but how you preparing for the cliff? >> well, there's no way one can be preparing. you have to be think about uncertainty as you make your investment decision. in terms of fiscal policy, obviously there's a
disparity. things like that. mitt romney's tax rate. those come up in that argument. listen, it may be certainly they wanted to do it before the end of the year. this having been a leverage buyout, they like to keep their leverage ratio pretty high. 4.5 times. then they generate cash flow and pay it down and go to capital markets and borrow another billion dollars and they pay two more dollars to their holders who continue to be some of the lbo firms that took it private. >> that's a game plan that works. >> it has worked well. >> rates are so low. why doesn't everybody do that? >> works well. as a former fully owned by private equity they are more comfortable with leverage than others are. >> a level of comfort that i find to be -- they are insensitive to the economy and they're a winner in obama care. 2014 begins and i'm picking numbers up. hca. even with this leverage. raising numbers, hca, 2014. i'm doing that right now. cramer firm is taking up numbers. >> you did it in your head. >> i did. i'm going to ask the sales force to go out with it and i think he can get the stock movi
, as the market continues to be on a hair trigger alert. the president meeting with mitt romney, although no press on that one. and we will also get some housing data coming up in about hal half an hour's time. the exchange is playing muse six in honor of this bank, which is being called america's most exciting bank. >> that's what they call themselves. and maybe that's why they have this music, because it's actually quite loud. >> let's see if they start dancing the executives. >> the race is on to see which bank is the most exciting in this country. >> a new trend here. >> in the meantime, here's the opening bell for a thursday morning. again brook shire -- nasdaq to the nyc and over at the daz damage, fran drescher, star of the sitcom, a great comedian. still responding to the news in the world of social media, whether it's living social and some reported layoffs or what andrew mason said about his tenure at groupon. >> to fire himself, he's not ready to fire himself. >> that was the first step i thought on the right path. i mean he just needs to go one step further, a la mark zuckerberg and go
to the country after the election defeat of romney the way in which the governors in las vegas who spoke about modernizing gop as you might do abroad. can they push the gop along to the extent that we get a deal sooner rather than later on this particular issue? >> reporter: in theory they could. in practice the national political dialogue and state level political dialogues move on separate tracks. the governors can lend their voices but they can't have a lot of influence. members of the house and senate who are elected in particular states, they are driven by their own electoral imperatives and political imperatives and the governors have influence but not all that much. the one thing that is true about the governors, simon, most states are strained financially. they need more money. the healthier the federal government is financially, the more aid they get in those states and the reverse is true as well. the worst the federal deficit, the more aids to states get cut. >> okay. john, thank you very much. the view there from washington as we keep our eye on fiscal cliff negotiations. we have a
difference, one reason why people like me look at former presidential candidate mitt romney talk about npr or planned parenthood. the number one answer for balancing the budget is foreign aid. which if you really wanted to balance the budget and you don't always have to go to the department of justice or whatever it may be. but over the next ten years, 90% of federal outlays will be medicare, medicaid, social security, defense spending and interest on the debt. you can wipe everything else out and you'll basically -- >> it's like what you were talking about in the last hour, to rational exuberance. americans want it, want it now, and don't want to pay for it. there's a certain quality in american democracy that just allows us to be completely self-deluded. >> dan brought up an grinterestg point, the debt. which they're going to go up, at that point, you've got a serious problem on your hands. >> why wouldn't -- as a leader of the free world, why wouldn't you be saying i've got to get these entitlements under control? they're not even talking about it, not addressing it on these sides. >> i
Search Results 0 to 16 of about 17